Porsche 2011 Annual Report Download - page 63
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Risks relating to the business development
The risks relating to the development of
Porsche SE’s business as the parent company of the
Porsche SE group are closely connected to the risks
relating to the significant investments in Porsche
Zwischenholding GmbH and Volkswagen AG. Acting as
a holding company also entails additional risks. Please
refer to the following section and to the report on the
opportunities and risks of future development in this
management report for a description of the risks.
Risks arising from financial instruments
Porsche SE is exposed to particular risks,
partly on account of its management function within
the Porsche SE group. These are described in the
report on the opportunities and risks of future devel-
opment in this management report, along with the
risks relating to the significant investments held by
Porsche SE.
Proposed dividend
The statutory financial statements of Porsche
SE as of 31 December 2011 report a net retained
profit available for distribution of 231,831,250 euro.
The executive board proposes deciding upon the
distribution of a dividend of 0.754 euro per ordinary
share and 0.760 euro per preference share, i.e., a
total distribution of 231,831,250.00 euro. The divi-
dend approved for SFY 2010 was 0.500 euro per
preference share. The ordinary shareholders of Por-
sche SE had stated that they would not participate in
the dividend distribution for SFY 2010 and that the
dividend should be distributed exclusively to the hold-
ers of preference shares.
Dependent company report drawn up
As in previous years, in accordance with
Sec. 312 German Stock Corporation Act (AktG),
Porsche SE has drawn up a report on relations with
companies affiliated with holders of its ordinary sha-
res (a dependent company report). The conclusion of
this report is as follows: “In accordance with the
circumstances known to it when the transactions
stated in the report were conducted, Porsche Auto-
mobil Holding SE has rendered or, as the case may
be, received reasonable payment. The company was
not disadvantaged by these transactions. There were
no reportable measures in accordance with Sec. 312
(1) Sentence 2 German Stock Corporation Act (AktG)
in the fiscal year 2011”.
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